Selling your home sounds like a great way to cash in on equity, right? But before you start mentally spending that paycheck on a beach vacation, let’s talk about the not-so-hidden costs of selling your home—because, spoiler alert, it’s not just about planting a “For Sale” sign in the yard and calling it a day.
If you’re in the Greater Augusta Metro Area (hello Augusta, Evans, North Augusta, and all our other lovely neighbors), we’re breaking down the costs you need to know. Ready to dive in? Let’s go.
1. Agent Commissions (The Big One)
Agent commissions are typically the largest expense when selling your home. In most cases, the commission rate is around 5-6% of the sale price, split between the seller’s and buyer’s agents.
Update on Commissions Post-NAR Settlement:
Recent changes stemming from the National Association of Realtors (NAR) settlement have altered how commissions (now called COMPENSATION, by the way), are handled. As of August 2024, sellers are no longer required to offer compensation to buyer's agents when listing a home on Multiple Listing Services (MLS). This means that buyers now negotiate and pay their agent's commission directly. This shift aims to increase transparency and could lead to more flexible commission structures.
2. Home Repairs and Improvements
Before listing your home, you’ll likely need to address those nagging “I’ll get to it later” repairs. Buyers love a move-in-ready home, and small fixes can make a big impact.
3. Staging Costs
Staging your home can make a significant difference in how quickly it sells—and for how much. A well-staged home helps buyers envision themselves living there, which is key to closing the deal.
4. Closing Costs
Yep, sellers have closing costs too. These typically include:
5. Pre-Sale Inspections
Some sellers opt for a pre-sale inspection to uncover any potential issues before buyers do. This can be especially helpful in competitive markets like Evans or North Augusta, where buyers are savvy and inspections are thorough.
6. Utilities and Holding Costs
If you’ve already moved out, you’ll still need to cover utilities, lawn care, and other maintenance costs until your home sells. Don’t forget property taxes and mortgage payments, too!
7. Marketing Costs (If You DIY)
If you choose to go it alone (not recommended, but we’re not judging), you’ll need to budget for professional photography, online listings, and possibly print ads.
Bottom Line: How Much Does It Really Cost?
When you add it all up, the total cost of selling your home typically falls between 8-10% of the sale price. For a $300,000 home in the Greater Augusta Metro Area, that’s roughly $24,000 to $30,000.
But here’s the good news: these costs aren’t wasted. They’re an investment in maximizing your home’s value and ensuring a smooth sale. And with Riverwatch Residential & Commercial by your side, you’ll get expert guidance every step of the way.
Join the Riverwatch Community
At Riverwatch Residential & Commercial, we’re not just here to sell homes—we’re here to make the process seamless, empowering, and even (dare we say) fun.
If you’re thinking about selling, or if you’re a savvy REALTOR® looking to join a boutique brokerage with big heart, check out our JOIN THE TEAM page.
Already ready to make a move? Let’s chat! SCHEDULE A CALL today, and we’ll help you navigate every dollar and detail.
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